Biosensors shares fall after CB Medical pares stake

SHARES in medical devices maker Biosensors International Group lost seven cents to close at 86.5 cents yesterday after substantial shareholder CB Medical Holdings sold off nearly 40 million shares.

The counter slipped to a low of 83 cents in trading yesterday before finally closing at 86.5 cents, with 35.84 million shares changing hands.

Owned by China-based fund Citic Private Equity, CB Medical divested some 39.5 million shares at an average price of US$0.84 per share. This cuts its stake in Biosensors from 21.78 per cent to 19.46 per cent.